South Carolina · Code §12-43-220(c)South Carolina's 4% legal residence assessment: what buyers must apply for

South Carolina taxes a legal residence – and up to five contiguous acres – owned and occupied by the owner on an assessment equal to 4% of its fair market value (S.C. Code §12-43-220(c)(1)); if the assessor finds the owner-occupant ineligible, the 6% ratio applies. It isn't automatic for a buyer: the owner or the owner's agent must apply before the first penalty date for paying taxes for the first tax year the owner claims it, certifying under penalty of perjury that the home is the owner's legal residence and domicile, and the assessor may require the most recent South Carolina income tax return and the vehicle registrations at that address (§12-43-220(c)(2)(ii), (iv)). A properly certified owner qualifies if the home isn't rented more than 72 days a year. A home that qualifies for any part of the year gets the 4% ratio for the whole year (§12-43-220(c)(2)(i)). After a change in ownership or use, the prior owner must notify the assessor within six months, and the new owner must file another application to qualify for future years (§12-43-220(c)(2)(vi)). A buyer who intends to make the home a primary residence may apply on actually occupying it, and occupying within 90 days of acquiring ownership makes the 4% ratio retroactive to that date (§12-43-220(c)(6)). Missing the deadline abandons the 4% classification for that year, though the local taxing authority may extend the time for reasonable cause (§12-43-220(c)(2)(viii)), and a refund of overpaid taxes may be sought under §12-60-2560. Taxes are due between September 30 and January 15 (§12-45-70), and the first penalty is added when they aren't paid before January 16 or 30 days after tax notices are mailed, whichever is later (§12-45-180).